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2004 Mitsubishi Lancer Evolution

2004 Mitsubishi Lancer Evolution

Sedan
all wheel drive
premium unleaded (required)
Horsepower
271 hp
MPG Combined
MSRP
$26,799
Torque
273 lb-ft
Reliability Score
70/ 100Good
Based on 0 NHTSA complaints

Should You Buy a 2004 Mitsubishi Lancer Evolution?

The 2004 Mitsubishi Lancer Evolution is a high-performance sedan that appeals to driving enthusiasts looking for an exhilarating experience. With a turbocharged 2.0L I4 engine producing 271 horsepower and 273 lb-ft of torque, this all-wheel-drive vehicle delivers impressive acceleration and handling. Its 5-speed manual transmission enhances driver engagement, making it a favorite among those who appreciate a hands-on driving experience. While the MSRP of $26,799 positions it competitively in the performance car market, potential buyers should be aware of its premium unleaded fuel requirement and relatively low combined MPG of 19.0, which may impact long-term ownership costs.

This vehicle is often celebrated for its rally heritage and JDM appeal, making it a cultural icon among car enthusiasts. The Lancer Evolution is not just a performance vehicle; it also offers seating for five, making it a practical choice for those who want to combine daily usability with thrilling performance. However, prospective buyers should consider their driving habits and fuel preferences before making a purchase.

Ideal For

This vehicle is best for driving enthusiasts who prioritize performance and handling, and are looking for a practical yet thrilling daily driver.

Strengths

  • +Impressive performance with 271 hp and all-wheel drive
  • +Engaging 5-speed manual transmission
  • +Strong aftermarket support and tuning potential
  • +Rally heritage adds to its cultural significance
  • +Practical seating for five in a performance-oriented package

Weaknesses

  • -Requires premium unleaded fuel, increasing operating costs
  • -Lower fuel economy at 19.0 MPG combined
  • -Ride may be harsh for daily commuting due to sport-tuned suspension
  • -Limited cargo space compared to non-performance sedans
  • -Potential for higher maintenance costs due to performance parts

Known Issues (NHTSA Data)

No significant NHTSA complaints on record. However, like many performance vehicles, owners may experience wear on components due to spirited driving. Regular maintenance and attention to the drivetrain are recommended to ensure longevity.

Performance

Horsepower
271 hp
Torque
273 lb-ft
Engine
2 L
Cylinders
I4
Transmission
6-speed automated manual
Drive Type
all wheel drive

Efficiency

MPG Combined
Fuel Type
premium unleaded (required)

Dimensions

Length
Width
Height
Wheelbase
Curb Weight
3,218 lbs
Ground Clearance

Capacity

Doors
4
Seating
5
Cargo
Max Cargo
Max Towing
Max Payload

ddpc Estimated Value

$5,303
$4,508 – $6,099
80% from MSRP
Original MSRP: $26,799
Depreciation Over Time
New
5yr
10yr
15yr
ddpc Estimate based on original MSRP, standard depreciation curves, vehicle class, and NHTSA reliability data. Not a substitute for professional appraisal. Actual value depends on condition, mileage, location, and market conditions.

Estimated Cost of Ownership

Estimated Annual Cost
$4,212
Per Mile
$0.35
5-Year Total
$42,556
Fuel
$2,211/yr
Maintenance
$600/yr
Insurance
$1,401/yr
Depreciation
$4,299/yr
Based on industry-standard estimates for this vehicle class. Fuel cost assumes 12,000 mi/yr at national average gas prices. Maintenance uses class-based intervals, not manufacturer-specific schedules. Actual costs vary by location, driving habits, and vehicle condition.

Available Trims (3)

Lancer Evolution
RS 4dr Sport Sedan (2.0L 4cyl Turbo 5M) (6-speed automated manual)
271 hp
all wheel drive
$26,799
Lancer Evolution
VIII 4dr Sport Sedan (2.0L 4cyl Turbo 5M) (6-speed automated manual)
271 hp
all wheel drive
$29,999
Lancer Evolution
DOHC TURBO
AWD/4WD

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